Author: Rigs & Barge World

Abu Dhabi National Oil Company (ADNOC) has deployed Taurob’s heavy-duty inspection robot at its Taweelah Gas Compression Plant, where it will conduct routine inspections in hazardous environments without putting people at risk, according to the company’s May 21 release. The Taurob heavy-duty robot is now conducting on-site autonomous inspections as the first set of eyes on the ground, enabling engineers to identify potential gas leaks, unusual hotspots, and other hazards to enhance safety, said ADNOC. Built for extreme industrial environments, the robot is fitted with a wide range of advanced sensors, including 3D LiDAR (Light Detection and Ranging) technology and…

The release of March Jodi data this week provided a clearer picture of the initial impact of the Middle East conflict on Saudi Arabia’s oil sector. The closure of the Strait of Hormuz since early March has inflicted unprecedented damage on the region’s oil producers, forcing widespread production shut-ins across the Gulf. Saudi Arabia has been relatively shielded as its 7mn b/d East-West crude oil pipeline enabled it to switch exports from the Gulf coast to the Red Sea, allowing it to maintain around 60% of pre-conflict exports of both crude oil and refined products. Oil export revenues actually soared…

From inside the Sukari Gold Mine, one of the world’s largest, Karim Badawi, Minister of Petroleum and Mineral Resources,  announced the launch of an “exceptional” edition of the Egypt International Mining Forum (EIMF), under the patronage of President Abdel Fattah El-Sisi, noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The event is scheduled to take place on September 28–29 in the New Administrative Capital, with broad international participation expected from major mining companies and global investors. During an extensive tour of Sukari, Badawi stated that the forum in its new edition marks the beginning of a…

Agiba Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and the Italian energy major Eni, has made a new Western Desert hydrocarbon discovery described as the company’s largest in 15 years. The discovery was made through the exploratory well South Bostan-1X, drilled using the EDC-9 rig operated by the Egyptian Drilling Company (EDC), according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The initial estimates indicate reserves of approximately 330 billion cubic feet (bcf) of gas, alongside 10 million barrels (mmbbl) of condensates and crude oil, bringing the total to around 70…

Algeria doubled its solar power capacity with this week’s commissioning of two new solar photovoltaic (PV) power plants with combined capacity of 400MW. Another 1GW is due online by year-end, meaning installed renewable capacity could triple this year. With total installed power generation of around 27.3GW at the end of last year, solar still makes up a fraction of the mix. Even after the latest additions, solar PV accounts for around 3% of total capacity, rising to 3.6% when hydropower and some wind capacity are included (see chart 1). Nevertheless, a pipeline of projects at various stages of development points…

Karim Badawi, Minister of Petroleum and Mineral Resources, witnessed the launch of drilling operations for a new well at the Mediterranean Nargis natural gas field, to fast-track production from the field, which US energy field major Chevron Corporation operates in partnership with Italy’s Eni, the UAE’s Mubadala Energy, and Egypt’s Tharwa Petroleum Company, noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). Badawi inspected the onset of operations from aboard the Stena Forth drillship, which arrived in Egyptian waters earlier this week to commence the offshore campaign. He affirmed that the new well forms a core part…

With the crisis in the Strait of Hormuz showing no signs of a resolution, Asian currencies have fallen sharply against the US dollar in recent days. Analysts attribute this decline to the soaring oil import bills of nations that have relied heavily on Middle Eastern crude for decades. Meanwhile, regional leaders are urging the public to cut energy consumption to preserve foreign exchange reserves and prevent economic drainage. Indian Prime Minister Narendra Modi, for instance, appealed to citizens in the world’s most populous nation to curtail holiday travel, reduce fuel consumption, and limit spending on gold. While these currencies are not…

Omani state offtaker Nama Power and Water Procurement (Nama PWP) on 17 May signed a Power Purchase Agreement (PPA) with state renewables energy firm O-Green for the sultanate’s first round-the-clock (RTC) renewable energy project. Signed on the eve of the Oman Petroleum and Energy Show (MEES, 22 May), the project signaled Muscat’s intention to ramp up renewable energy generation to 30% of the national total by the end of the decade (see chart 1 & MEES, 27 February). Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data…

Sidi Kerir Petrochemicals Company (SIDPEC) reported a 4.87% increase in revenues in the first quarter (Q1) of 2026  to EGP 3.788 billion. Meanwhile, the company posted a 68.65% year-on-year (YoY) decrease in net profit after tax in the same period to  EGP 184 million,  according to the company’s unaudited financial statement submitted to the Egyptian Stock Exchange (EGX). The Q1 results show a sharp divergence between SIDPEC’s core operations and financing flows. Operating cash surged 88 %year‑on‑year in the first quarter of 2026, underscoring stronger business fundamentals. At the same time, investment cash flows fell 63 %, and financing cash…

AngloGold Ashanti’s Sukari mine in Egypt delivered gross profit of $292 million in the first quarter (Q1) of 2026, marking an 80.25 % increase from its level in Q1 2025. Moreover, the total cash cost per ounce of gold produced from the mine during the period came at $826/oz, the lowest among all of Anglo Gold’s mines in Africa and Australia. Yet, the mine saw a dip in output in Q1 2026, with production down 4,000 ounces year-on-year (YoY) as gold production was 113,000oz. The decline was mainly due to a 27% YoY drop in the concentration of the target…